Soybean futures rise on spot demand

Soybean prices on Tuesday increased by Rs 4 to Rs 3,850 per quintal in futures trade as speculators raised their positions supported by a strong spot demand.

Marketmen said fresh positions created by participants following upsurge in domestic demand pushed up soybean prices here.

On the National Commodity and Derivatives Exchange, soybean contracts for September delivery traded higher by Rs 4, or 0.11 per cent, to Rs 3,850 per quintal in an open interest of 38,680 lots.